ABC Corp. borrowed money to purchase equipment. The loan is repaid by making payments of $924.37 at

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ABC Corp. borrowed money to purchase equipment. The loan is repaid by making payments of $924.37 at the end of every three months over seven years.If interest is 7.3% compounded annually,

a.what was the original loan balance?

b. b.how much interest will ABC Corp. pay?

Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Posted Date: May 18, 2024 09:17 PM

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ABC Corp. borrowed money to purchase equipment. The loan is repaid by making payments of $924.37 at

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Contemporary Business Mathematics with Canadian Applications

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